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20121009
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corporate tax revenue has tumbled. mariano rajoy issues the latest denial that he's ready for a bailout. >>> we now have the latest numbers crossing for the eurozone services pmi. the september final services read coming in at 46.1. an improvement that we have seen from the 46 number. this is still the lowest level we're seeing since 2009. the forward indication 49.4. in terms of what we're seeing on the final comp sit pmi, this is above the 45.9 read that we have, but just a fraction below what we saw in august, the rate was 46.3 then. this is the lowest read since may 2009. in terms of new business number for the composite september rate, 43.8. we're still right back at some of these 2009 lows. >>> elsewhere, the numbers are not that much better. lisa has more on these numbers out of china. >> official data showed china services sector fell sharply in september to its lowest level in almost two years. it shows the rest of the economy has started to feel the effect from the sluggish manufacturing sector. if you look at the breakdown of the services pmi, the construction services sub in
in france, the tax rates? >> it's a nice story, but all the budgets have been way too optimistic. it's not i78 possibmpossible, b challenging. >> all right. my quote of the day already. sterling in reaction to that hasn't moved an awful lot. as far as -- i get so used to looking at my old camera and i'm not looking at this one, so i do apologize. euro-dollar at 128.79, dollar yen steady, as well, not huge moves. we are firmer the first trading day of the last quarter. yes, it's all downhill or uphill to christmas depending on your point of view. ibex up 0.8%. spanish yields are lower this morning ten year below 6%, 5.92. italian yields also slightly up 5.14. meanwhile plenty of folks on spanish banks, shares have been suspended, that's why that's in black after they approved a right issue. it will report record write downs of 9.3 billion euros. and former unicredit ceo is set to stand trial in milan and other executives over allegations of tax fraud. that trial is taking place in milan and that is where claudia joins us now. claudia, just sketch out for us again the outline of this case. >>
's time for a change. if i look at what obama is projecting, it will be higher taxes, higher debt, and it will bei be not much else other than more government spending. and that won't make the difference. so i think fiscal uncertainty has to be removed in order for the corporates to spend the huge amount of cash that they're holding. and at this point not investing. the fiscal -- i don't want to call it the fiscal cliff because that's not so important. the question is getting certainty into the situation for corporates to invest again. >> okay, good to have you on on. plenty more to come from you. but what do you think the jobs number will be? let us know. e-mail or tweet us. so just over an hour into the trading day here in europe. let's show you where we stand. just weighted to the up side. pretty flat day for european stocks. 6:4 advancers currently outpacing decliners. we are a quarter percent higher on the ibex, as well. let's show you where we stand. yields are still below 6%. 5.8% mar begin alley higher. we'll keep our eyes on u.s. yields. we got down to 1.66 is where we st
focusing on taxes, the deficit, remaking head care and job creation, too. romney came out on the offensive, casting the president as a proponent of big government and spending. he would raise taxes on small businesses and obama, though, accused his rival of trying to double down on policies that led to the recession and financial crisis. >> the president has a view very lar similar to the view four years ago. spending more, taxing more, regulating more, trickle down government would work. >> the genius of america is the free enterprise system and freedom. and the fact that people can go out there and start a business, work on an idea, make their own decisions. but as abraham lincoln understood, there are also some things we do better together. >> so the vice presidential candidates, paul ryan and skrjo biden will meet for their only debate next week. president obama and mitt romney head back out to the campaign trail today where the president making stops in colorado and wisconsin. romney will travel to virginia. let's get a bit more into this debate. joining us now for more is a republica
ten years and they would vote to put off the automatic tax hikes and spending cuts set to take effect in january. but with the deficit coming down payment to signal how serious they are. jim, how sdw this get resolved? >> well, i haven't heard that sister, but that's what we've been picking up, that in the background of all these guys working on the deal already. soon after the election, our best guess is that there will be one. not too different from that story actually. >> qe-3 meanwhile, how does that play? does that continue to support lift asset prices? how do commodities get in the wash between slowing chinese growth and fed action? >> that's a good question. because i think it's a big one. i think we're not three weeks into qe-3 yet and the populous mind set of the markets is that we're done qe-3, let's move on to whatever's next. qe-3 is in my opinion very different from previous qes. the feds tip toe down a path of what i call nominal gdp targeting. we're tying it directly to real economic outcomes. so they're saying they're not going away and they've opened the door to it al
to make sure this country continues to live within its means and at the same time has a tax system that attracts international businesses to britain p. and one of the encouraging stories is 20 of the largest companies are moving some of their head quarters to the uk. >> but low yields aren't giving us growth. >> all western countries are facing the issue of how they pay their way in the world and how they grow. if you look at the uk, a million jobs in the private sector over the last couple of years and we'll go on making reforms to our tax system to make this the competitive place to come and do business. >> meanwhile britain's largest businesses are adopting more defensive strategies. this is one of the latest findings of the deloitte cfo service. they were asked what their views are on the current operating environment. joining us with more, chief economist at deloitte. good to see you. i suppose we had a record second quarter of declines. >> confidence went through the floor back in june on the result of what's going on in the euro area. you've seen a bit of a bounce. risk appe
Search Results 0 to 5 of about 6